Gilead shows deal appetite, taking out ‘don’t eat me’ play Forty Seven for $4.9B

If Gilead’s takeout of Forty Seven isn’t the transformative oncology deal some have expected under Chairman and CEO Daniel O’Day, the $4.9 billion acquisition does give the company a clinical candidate that has already begun a potentially pivotal study in myelodysplastic syndromes.

On a conference call Monday, Gilead Sciences Inc. (NASDAQ:GILD) management said the deal is squarely in line with its strategy of seeking small-to-medium-sized bolt-on acquisitions, as well as other deal types. “Clinical-stage assets like this are right in the sweet spot of the strategy,” CFO Andrew Dickinson said. “You should expect that we’ll continue to look at more transactions like this.”...